Thursday, August 22, 2013

Parkson Retail Asia

Parkson Retail Asia: Reported a sub-par 4Q13 results, as net profit for 4Q fell 62.1% to $3.4m, even as its revenue inched up 0.6% to $102.9m. For the full year, net profit dropped 16.6% to $37.9m, while revenue climbed 3.2% to $446.2m. Concessionaire sales remained the main contributor to growth, accounting for 79.5% of the group's total merchandise sales; direct sales contributed the remaining 20.5%. Grp note that the challenges it encountered this year have dampened its performance. Many of these difficulties are due to macroeconomic conditions. Believe that this is for the short term ny expanding its store network and enhancing the store retail experience to target middle to higher-income consumers, confident of harnessing the growth in all its key markets. Looking ahead, the group said that it remains committed to its strategy of continuing to improve store productivity and operating efficiency. The grp is also moving ahead with its expansion strategy, with a target to open another 10 stores for FY14. The stores will be distributed across Malaysia, Vietnam, Indonesia and Cambodia, and take up a total gross floor area of 144,776 sq m.

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